Brandywine Global Investment Management LLC cut its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 3.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 179,818 shares of the insurance provider’s stock after selling 6,680 shares during the period. Brandywine Global Investment Management LLC owned 0.31% of Selective Insurance Group worth $9,000,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Selective Insurance Group by 0.3% during the second quarter. BlackRock Inc. now owns 7,444,606 shares of the insurance provider’s stock valued at $372,603,000 after buying an additional 19,072 shares during the period. Vanguard Group Inc. raised its stake in Selective Insurance Group by 1.6% in the second quarter. Vanguard Group Inc. now owns 5,296,404 shares of the insurance provider’s stock worth $265,086,000 after buying an additional 81,335 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Selective Insurance Group by 1.8% during the first quarter. Macquarie Group Ltd. now owns 2,960,149 shares of the insurance provider’s stock worth $139,571,000 after buying an additional 53,418 shares during the period. State Street Corp lifted its holdings in Selective Insurance Group by 6.8% during the first quarter. State Street Corp now owns 1,360,954 shares of the insurance provider’s stock worth $64,174,000 after buying an additional 87,068 shares during the period. Finally, Northern Trust Corp lifted its holdings in Selective Insurance Group by 16.2% during the second quarter. Northern Trust Corp now owns 1,359,536 shares of the insurance provider’s stock worth $68,044,000 after buying an additional 189,401 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

SIGI has been the topic of several recent research reports. Keefe, Bruyette & Woods set a $48.00 target price on Selective Insurance Group and gave the company a “hold” rating in a research report on Tuesday, August 15th. Zacks Investment Research upgraded Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. BidaskClub downgraded Selective Insurance Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 23rd. Royal Bank Of Canada reiterated a “hold” rating and issued a $50.00 target price on shares of Selective Insurance Group in a research note on Friday, July 28th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Selective Insurance Group in a research note on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $47.73.

In other news, Director Michael J. Morrissey sold 665 shares of Selective Insurance Group stock in a transaction on Friday, September 1st. The shares were sold at an average price of $50.81, for a total transaction of $33,788.65. Following the completion of the sale, the director now directly owns 15,177 shares of the company’s stock, valued at approximately $771,143.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul D. Bauer sold 1,000 shares of Selective Insurance Group stock in a transaction on Friday, August 4th. The stock was sold at an average price of $51.06, for a total transaction of $51,060.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,148 shares of company stock worth $210,141. Insiders own 3.00% of the company’s stock.

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Selective Insurance Group, Inc. (NASDAQ:SIGI) opened at 53.85 on Monday. The stock’s 50 day moving average price is $50.39 and its 200-day moving average price is $49.57. The firm has a market capitalization of $3.14 billion, a P/E ratio of 18.76 and a beta of 1.44. Selective Insurance Group, Inc. has a 12 month low of $34.95 and a 12 month high of $54.05.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). Selective Insurance Group had a return on equity of 10.82% and a net margin of 7.13%. The firm had revenue of $614.50 million during the quarter, compared to analysts’ expectations of $611.62 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that Selective Insurance Group, Inc. will post $3.04 earnings per share for the current year.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is a holding company. As of December 31, 2016, the Company had 10 insurance subsidiaries, nine of which were licensed by various state departments of insurance to write specific lines of property and casualty insurance business. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market.

Institutional Ownership by Quarter for Selective Insurance Group (NASDAQ:SIGI)

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